Issuer Responsibilities Due to Securities Delisting on the Exchange

Abstract

Delisting is the removal of securities from the list of securities listed on the exchange so that these securities cannot be traded on the exchange. This occurs when the shares listed on the exchange have decreased the criteria so that they do not meet the listing requirements, thus the shares can be excluded from the listing on the exchange. Research on the liability of issuers due to delisting of securities on the stock exchange is normative. This research is designed to examine the responsibilities of issuers to investors due to delisting in the capital market. The results show that the issuer's responsibility to delisted investors, namely, the issuer has a role to buy back shares, the IDX has a role to buy shares owned by investors in accordance with Article 37 of the Company Law, the IDX has a role to create an orderly market and OJK has a role to defend. law for investors who have suffered losses in accordance with Article 30 of the OJK Law and Article 111 of the UUPM. Both OJK and the stock exchange must supervise and examine the reasons for delisting and regulating their accountability after delisting in the Indonesian capital market.